For months, Dish has been promising one thing about its cellular network — that it would come with NFTs. (And also that it would cover 20 percent of Americans, like it’s legally required to do.) I’m happy to report that after about a month of testing, I’ve finally acquired one of these NFTs and can tell you exactly what all the fuss is about. Spoiler alert: don’t set your expectations high.
Even as someone who’s become numb to the mention of blockchain-based tokens, their presence was hard to ignore while I was testing the service, known as Project Genesis. Dish’s welcome email mentioned them, and every time I opened the Project Genesis app, it told me how close I was to getting an NFT. Doing the tasks required to earn an NFT turned out to be the easy part, though. Thanks to an unfortunate series of events, actually getting it into a crypto wallet was way harder and took way longer than I expected — though, unlike the difficulties I had signing up for the service itself when it launched, this time, it was mostly my fault.
Before we get to the part where I embarrass myself, though, I should address the whole influencer thing from the headline, which gets to the heart of why NFTs are involved with Project Genesis at all. Given that Dish is building its network basically from scratch, it needs a lot of data about the kind of experience its users are having — what kind of service do they get at certain locations, do they have enough bandwidth to actually use their phones, what does real-world coverage look like, etc. One of the ways the company collects this data is through the Project Genesis app, which users are pushed to download and use by both a sheet of paper that comes with their phones and a step during the actual Android setup process.
The app has you carry out various tasks each day, like checking in at a new location, sending a text message, or watching a YouTube video. Doing these tasks nets you points, which go toward increasing your rank — you start out as a “Member,” but if you call your mom enough times, you can eventually become an “Influencer,” then a “Pro,” and finally a “Founder.” Each tier comes with a set of rewards. You basically get a Project Genesis cup as soon as you sign up for the app, but it’ll constantly remind you that the real prizes are yet to come: just collect 9,000 more points, and you’ll get Project Genesis earbuds and a Limited Edition NFT.
There’s also, of course, the unspoken reward: if you file enough feedback through the surveys and answer the “how are things working right now, thumbs up or thumbs down” question enough times, your service might get better. During a call with some people at Dish, including corporate communications manager Meredith Diers and retail wireless vice president Jeremy McCarty, I was told that the company’s actual engineers look at the feedback from the app and will sometimes reach out to people to get more info.
As funny as it is that Dish has gamified the experience of complaining about bad cell reception (there’s a leaderboard in the app and everything), it’s actually nice to have some sort of feedback mechanism. With other carriers, all you can do is stew in annoyance when you hit a dead zone that just shouldn’t exist. With Dish, you at least have some chance of the company doing something about it.
Who cares about things like “quality of service” and “customer feedback,” though? I didn’t sign up to try out this service because I wanted to experience the attempted launch of a new major carrier. I did it because I… want! that! NFT! (Besides, it’s too early in the service’s rollout in Spokane to tell how much of an effect my feedback actually has.) So, for over a week after I received my Project Genesis phone, I dutifully logged into the app and did every single task… except for calling 10 people like the app asked because, as a zoomer, I refuse to talk on the phone even once.
Finally, a completed task, a burst of confetti, and a pop-up box. I had gotten the NFT; all I needed to do was enter my Cardano wallet address to claim it.
Now, despite the fact that I wrote an entire explainer on blockchains, I was left wondering: “what the heck is Cardano?” I figured it had to be a blockchain, just one that I had never heard of, and went to search for a wallet I could use to grab an address and finally see Dish’s NFT. (For the uninitiated: wallets are the apps you use to access your crypto assets, such as coins and NFTs.)
This is where I made a mistake. When you Google “Cardano wallet,” the first result is from the actually Cardano website, talking about “Daedalus.” Without really looking into it, I downloaded Daedalus Wallet, installed it, grabbed a receiving address, and entered it into the Project Genesis app. It told me that I could expect my NFT to arrive within 48 hours.
It may well have, but I wouldn’t have known because it took me days just to get Daedalus up and running. You see, it’s not just a wallet like Metamask or Coinbase’s wallet, where you simply set it up and can add and see assets pretty much immediately — instead, it downloads a copy of the entire Cardano blockchain (which is currently taking up around 73 GB on my SSD) and validates each and every transaction that’s ever occurred on it. This meant that it took my laptop around a dozen or so hours running full tilt to get Daedalus fully set up.
This isn’t a slight on Daedalus, to be clear, nor is it Dish’s fault that I happened to download this particular wallet without doing enough research. There are reasons why you’d want a full node wallet; it’s just that it was totally wrong if all you want to do is collect an NFT that you’re going to look at once as part of your job. Though, as a note to the Project Genesis team, it may not be a bad idea to have a button that says “how do I redeem this NFT?” There is a button labeled “Find out more about NFTs,” but learning about the things in abstract and figuring out which app I should be using to redeem this specific one are two different things. (To be clear, though, the button may have taken me to a page with that info — I just didn’t tap it because I figured I already knew what an NFT is.)
But after a few nights of my computer running full tilt (I couldn’t sync Daedalus during the day because macOS would slow to a crawl), it had finally downloaded the entire blockchain and, with it, the transaction that contained my NFT. I finally had it, sitting in my wallet. It was the moment of truth; I went to see what it was I had earned for all my hard work (read: pressing the “text a friend” button then immediately going back to the Project Genesis app because that apparently counted).
This is what I was greeted with:
In case you were wondering if everyone gets a unique NFT, it doesn’t seem like it. The transaction that deposited this wonderful piece of art into my wallet also sent a few other influencer-tier NFTs to other people, and the image included appeared to be exactly the same for those people as well. The “Pro” level NFT, however, is different. Do you want to see it? Too bad, here it is anyway, along with the top-tier “Founder” one for good measure.
Was getting my own NFT of a tattooed dog in Las Vegas — a city I have technically never even been to — worth all the trouble? All the watts I had to pump into my computer so it could confirm transactions on a blockchain I had never heard of?
Of course not. But! I did end up getting a pleasant surprise two weeks after I had initially made rank, in the form of an email from Project Genesis. “Welcome to the Influencer level,” it read, reminding me that my 10,000 points had earned me an NFT and a pair of Project Genesis Earbuds (the process for claiming these simply involved clicking a link and entering in a code and my address). As an additional bonus, though, it told me I had gotten three months of service for free, which would automatically be applied to my account.
Given that Project Genesis’ unlimited plan for smartphones costs $30 a month, that’s a $90 value. Toss in the NFT, and it adds up to a whopping $90.01 of value, just because I pressed a few buttons in an app a few times a day. Wow, I really do feel like an influencer.
PrivaCrip to Power a Blockchain Network That Could Follow Cardano & XRP
When the first decentralised blockchain was popularised in 2008 by Satoshi Nakamoto, the door was open for people across the globe to transact more securely and seamlessly. Many blockchain networks have been built and powered by native crypto tokens, including PrivaCrip (PRCR).
Native tokens exist for several reasons. Aside from acting as digital currencies, they perform various functions. Helping blockchains improve data traceability, security, transparency, and trustworthiness shared throughout the network. They also assist in reducing costs through their ever-evolving efficient methods.
Cardano (ADA) and Ripple (XRP) are among the best blockchain-based cryptos that this article will discuss. We will also look at how PrivaCrip (PRCR) will power a blockchain network set to launch into the crypto space.
Top Tier Crypto Makes its Mark – Cardano (ADA)
Cardano (ADA) has been around in the crypto space since 2017. The Proof-of-Stake (PoS), Ouroborous Cardano (ADA), was established using a research-based methodology.
Research is the backbone of Cardano (ADA) and is integral to its success in the cryptocurrency market. Cardano (ADA) uses an evidence-driven mechanism and peer-reviewed research to run its ecosystem to drive its evolution.
Among many things, Cardano (ADA) helps establish DeFi products and provides a suite of financial solutions. Crypto enthusiasts can stake Cardano (ADA) for a chance to earn rewards for their holdings.
With 2022 providing challenges in cryptocurrencies across the globe, Cardano (ADA) is one of the few cryptos to see a surge in on-chain trading volume this year. CoinMarketCap lists Cardano (ADA) as the 7th largest crypto by market capitalization at the time of writing.
Making Waves – Ripple (XRP)
Launched in 2012, Ripple (XRP) is a leading provider of crypto solutions for businesses. Ripple (XRP) provides developers with a solid open-source foundation for executing demanding projects. It is fast, energy-efficient, cost-effective, and reliable.
The solutions provided by Ripple (XRP) enable developers to solve inefficiencies, including asset tokenization and remittance. Therefore, individuals and businesses may apply Ripple (XRP) for DeFi, payments, tokenization, and more.
Crypto enthusiasts with a long-term focus may find Ripple (XRP) a valuable investing tool. Token holders can use Ripple (XRP) for staking its mainnet platform for a chance to grow their earnings and maximise profit.
The New Face Of Privacy – PrivaCrip (PRCR)
The soon-to-launch PrivaCrip (PRCR) is a cryptocurrency built for Web3 data privacy. It will allow users to develop and use permissionless and privacy-preserving applications. This unique feature of PrivaCrip (PRCR) secures apps, protects users, and fosters the creation of many new Web3 uses.
PrivaCrip (PRCR) will drive a blockchain that creates a more empowering and inclusive internet. It will enable developers to build secure dApps using private contracts based on original privacy research (OPR) to revolutionise Web3.
PrivaCrip (PRCR) will begin pre-sale soon and has an initial token price of 0.10 USD. According to the whitepaper, there will be a total supply of 190 million tokens, of which 40% of the total supply will go to the pre-sale.
Crypto enthusiasts who purchase PrivaCrip (PRCR) during the pre-sale will receive the most significant long-term rewards and bonuses. Those who buy with Bitcoin (BTC) will receive a 10% bonus. Also, those using Ethereum (ETH) to purchase will receive 15% of the total PrivaCrip (PRCR) they purchase as a bonus.
10% of PrivaCrip’s (PRCR) total supply is up for distribution as staking rewards, meaning that token holders who stake will receive rewards for their contribution to the crypto’s advancement.
Blockchain networks are continuously evolving, and so are the crypto tokens that power them. Cardano (ADA) and Ripple (XRP) have contributed tremendously to the success of their blockchain networks, gathering mass appeal.
PrivaCrip (PRCR), for its part, will drive a security-enabled blockchain and scalability in private DeFi, empower data tokenization, and bring together a fast-growing community. Acting on its promise, it has the potential to become the next big mover in cryptocurrency.
For more on PrivaCrip (PRCR), check below:
Cardano (ADA) Withdrawal Fees Waved by Bitrue Exchange
Singapore-based cryptocurrency exchange made Cardano one of its base trading pairs earlier this year
Singapore-based cryptocurrency exchange Bitrue announced that it had temporarily waived withdrawal fees for the Cardano (ADA) cryptocurrency.
The trading platform says that the move is meant to celebrate the support it received from the community behind the cryptocurrency.
Users will be able to withdraw ADA without paying any fees until mid-September.
Bitrue has stressed that it wants users to have “as much choice as possible” when it comes to custody options. Those who want to hold their ADA tokens will not be able to do so without paying an additional commission.
At the same time, Bitrue has touted its “Power Piggy” yield-farm investment program for those who want to earn passive income with ADA.
As reported by U.Today, Bitrue introduced the token as its base currency back in February.
In June 2021, it also became the first cryptocurrency trading platform to add support for Cardano-based native tokens.
Last month, Bitrue also announced a staking initiative with the ADA cryptocurrency. It decided to contribute a million tokens to some of the top Cardano staking pools in an effort to boost the level of decentralization.
Earlier this year, SundaeSwap (SUNDAE), the native token of the SundaeSwap exchange, also became available on Bitrue.
WingRiders Losses 59% Of Its Total Value Locked, Plunges Cardano TVL Below $100M
Popular Cardano-based decentralized exchange WingRiders has lost its position as the most valuable DEX on Cardano.
WingRiders slumped from the first position to third after losing more than 59% of the total value locked (TVL) on the platform in the past 30 days.
At the time of writing this line, WingRiders is now the third-largest DEX by total value locked, with a TVL of $19.66 million. It is noteworthy that WingRiders maintained the top spot for more than two months, claiming 42% of TVL On Cardano. However, the DEX has fallen from glory ever since.
Minswap Is Now Cardano’s Most Valuable DEX
The development also affected the total value locked on Cardano. The total value locked on Cardano has fallen below $100 million in the last 30 days after the WingRiders TVL slumped.
Interestingly, Minswap has taken the lead to become the most valuable decentralized exchange on Cardano after the massive decline of WingRiders’ TVL.
At press time, Minswap is leading, with a $49.09 million total value locked on the platform. The DEX hit the milestone after recording a massive growth of 30.9% in its TVL in the past 30 days. Minswap accounts for 51.82% of the total value locked on Cardano.
SundaeSwap, the first decentralized exchange on Cardano, is now the second most valuable DEX in the ecosystem. SundaeSwap is second in the ranking, with $19.72 million in TVL.
Like WingRiders, SundaeSwap has also lost a significant amount of its TVL over the past 30 days. In the past month, SundaeSwap has lost nearly 10% of the funds locked on the platform.
Commenting on the development, Cardano Daily, a platform that shares new developments about Cardano, said:
“After the major decline of @wingriderscom, the TVL scenario of the Cardano ecosystem has stabilized back to normal as we have seen in the past few weeks. @MinswapDEX still led the ecosystem with $51M TVL, contributing 50% of the ecosystem.”
CARDANO TVL STATUS
After the major decline of @wingriderscom, the TVL scenario of the @Cardano ecosystem has stabilized back to normal as we have seen in the past few weeks. @MinswapDEX still led the ecosystem with $51M TVL, contributing 50% of the ecosystem#tvl #cardano $ADA pic.twitter.com/xjZ6cHo8jX
— Cardano Daily (@cardano_daily) August 9, 2022
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